Installing an ATM in your shop offers a great opportunity for property owners to generate rental income. Let me tell you about the prerequisites for ATM installation:
It should be a commercial property. You should have the commercial usage approval and other necessary approvals from concerned authorities.
It should measure approximately 60 to 80 square feet
You should have a minimum of 5 lakhs of savings to invest (Rs 3 lakhs investment for managing and undertaking the daily ATM operations and Rs 2 lakhs for a refundable deposit).
You should have sound business and personal credentials.
Your property should be free from any encumbrances.
Your property should be in a busy area that has no ATMs nearby.
Check which financial institution has the rental property requirement in your area by reaching out to local property dealers or bank officials, checking ads in the newspaper, or visiting the official bank websites.
Submit the application for ATM installation in the bank or NBFC mentioning details like
Complete Address
Photos of the site
email ID and contact number
Frontage in running feet
Floor and carpet area in square feet
Commercial usage approval
Expected rent per square feet on the carpet area
After that, the bank will let you know whether they approve your application to install an ATM in your shop or not.
This process can take weeks and even months. If you are in a hurry to rent out your shop then you can post a free ad on NoBroker to get tenants for your shop easily.
Get Genuine Tenants for Your Property with the Help of NoBroker!
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I have my shop for atm
Yash
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2021-11-26T10:14:36+00:00 2021-11-29T15:30:55+00:00Comment
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